News February 8, 19:00 Eastern Time
POMPANO BEACH, FLA. (Feb. 8) BUSINESS WIRE -Feb. 8, 1999--Winners All International Inc. ("company") announced in a Special Meeting of the Common Stock shareholders held this morning, voted and approved to increase the authorized common stock capitalization of the company, change the name of the company to Urecoats Industries Inc. and ratified and approved the 1999 Consultant and Employee Stock Purchase and Option Plan.
The board of directors of the company also held a Special Meeting this morning. Howard Weiser stepped aside as chairman of the board and resigned as president and chief executive officer. Richard J. Kurtz was appointed chairman of the board and Larry T. Clemons was appointed president.
Weiser commented on the restructuring: "The restructuring of the board and officers was determined to be in the best interests of the shareholders and the company at this time. With the appointment of Richard J. Kurtz as chairman and Larry T. Clemons as president, the company is in a better posture for increasing shareholder value. I will be remaining on as a director of the company and as president of the International Division. I devoted over two years re-establishing the company, rebuilding shareholder value, and with the support of so many others, created an entity focusing on new technologies and markets for sealant and coating products using recycled materials in their composition. With the appointment of Mr. Kurtz and Mr. Clemons in their new capacities, the company will be able to continue to broaden its scope in the roofing, waterproofing and other sealant markets."
Kurtz was previously appointed to the board and has been providing financial support for the company's operations for the last three months. He is president and chief executive officer of the Kamson Corp., which has its principal executive offices located in Englewood Cliffs, N.J. Kamson Corp. currently owns and operates sixty (60) investment properties in the Northeastern United States. Kurtz recommended the appointment of Larry T. Clemons as president to the board because of his integrity, sales and marketing experience. Kurtz stated, "Mr. Clemons will lead Urecoats Industries Inc. into new and emerging markets, create an infrastructure of excellent management and supervise the technology of the product line that is ready for the global marketplace."
Clemons has extensive experience in taking products from the drawing board through prototype development on factory line, into the marketplace, and all within short periods of time. He was responsible for the development and full scale production of three prototype convertibles for Ford, Chevrolet and Pontiac, two of which were implemented within one year periods. Clemons worked for Holman Enterprises, achieved top ten sales award in the nation for three years in a row, and directed three new divisions. Clemons worked for ASC of Southgate, Mich. and was hand picked and hired by Industrialist of the Year, Heinz Prechter, its chairman. In addition to his above accomplishments, Clemons has substantial experience in the field of fine art.
The board of directors is very pleased with the present appointments.
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